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Wildhorse Company's accounting records indicated the following information: Inventory, 1/1/20 $ 1890000 Purchases during 2020 9900000 Sales during 2020 12390000 A physical inventory taken on December 31, 2020, resulted in an ending inventory of $2190000. Wildhorse's gross profit on sales has remained constant at 24% in recent years. Wildhorse suspects some inventory may have been taken by a new


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Fundamental Accounting Principles

20th Edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

ISBN: 978-0078110870